The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
 

The Climate Hub Division

The risks from the physical effects of climate change and the transition to a net-zero economy are relevant to the Bank’s mission to maintain monetary and financial stability. In particular, these risks pose a threat to the stability of the wider financial system, the safety and soundness of firms the Bank supervises, and impact the macro-economy. As such, climate change continues to be a strategic priority for the Bank. Its climate objective is to: “play a leading role, through our policies and operations, in ensuring the financial system, the macro-economy, and the Bank are resilient to the risks from climate change and supportive of the transition to a net-zero economy”.

The Bank’s work on climate change is coordinated by the Climate Hub Division. The Climate Hub Division sets and helps to deliver the Bank’s climate strategy.  It does this in coordination with colleagues embedded across the Bank’s functions (‘Climate Spokes’).  Within the Climate Hub Division there are two teams: 

• the Climate Hub Team, who act as the central hub for the Bank, own aspects of the climate agenda. 
• the Climate Project Team, who act as a centralised team of climate expertise. 

As work of the Climate Hub Division touches on all aspects of the Bank, from policy and supervision to our financial and physical operations, we encourage applicants with a diverse set of backgrounds, technical knowledge, skills and experience.  Furthermore, the Bank is committed to having a diverse and inclusive environment. We are keen to receive applications from all candidates who may be interested in working flexibly. 

Job Description

We are recruiting for a Senior Policy Manager (scale D) to act as co-head of the Climate Hub Team.  Climate change represents a vibrant and high profile policy area, where the role-holder will have a key role in shaping and delivering the Bank’s strategy.   

The successful candidate will work with the other co-head of the Climate Hub Team to develop and implement strategies that advance the Bank’s climate objectives.  The two co-heads run the Climate Hub Team together and have specific line management chains and responsibilities within it.  The team utilises a matrix structure, allowing the co-leads to respond to the rapidly evolving climate change agenda and take joint responsibility for cross-cutting matters such as communications and strategy.  Effective  communication and collaboration between the co-heads is important for the effective delivery of the Hub’s objectives.

This role includes responsibilities that cover all of the climate hub’s macro-economic activities and its related work on climate scenarios.  In addition, the role incudes shaping the Bank’s understanding of broader nature risks and the development and delivery of the Bank’s annual climate disclosure report. 

The role-holder’s responsibilities include, but are not limited to:

• Working with the other co-head of the climate hub to develop the Bank’s top-level strategic approach to climate and nature risks so that it meets institutional objectives and reflects evolving events.  The role-holder will also cascade the strategic approach in a way that allows delivery by both hubs and spokes. 
• Building out the Bank’s understanding of the macro-economic impacts from climate change.  The role holder will work within the Hub and with spokes to better understand these impacts and how they impact Bank objectives.  This will be undertaken through internal analysis and through the Bank’s engagement within international groups.
• A focus on the development and usage of scenarios that include climate and economic variables.  The role-holder will work internationally to develop reference scenarios and domestically to embed and tailor them for the Bank.  The role holder will also have responsibility for exploring what scenario / scenario analysis toolkit will be required over time and determine how that might be delivered.  
• Leading the Bank’s work on broader Nature risks.  This involves working domestically and through international groups to develop policy and supporting analysis.   
• Working with teams across the Bank to deliver its annual Climate Disclosure Report.  As well as delivery, the role-holder will have a key role in shaping the report and taking steps to ensure that its content remains relevant and its analysis current.
• Working as a Hub to align cross-Bank internal and external messaging.  The hub has a key role in ensuring that the Bank’s messaging remains current and is broadly understood.  The role-holder will have responsibility for ensuring the Hub delivers this through approaches that include written engagement, briefing and speech writing. 
• The Bank actively engages in international climate groups that are developing approaches to climate risk assessment.  The role-holder and their team will be active participants in some of these groups. 
• The Climate Hub Team works extensively with teams both within and outside of the Bank.  The role holder will developing effective relationships across a wide group of stakeholders. 
• Working closely with the other co-head of the Climate Hub Team on areas of shared responsibilities, including the team’s people strategy and hub engagement. 
• As suitable opportunities arise, the role-holder will have the opportunity to represent the Bank at conferences and external speaking engagements.
• Climate is an evolving policy area, meaning the shape of the forward agenda can be fluid.  The role holder will be encouraged to identify opportunities for new and insightful analysis that advance objectives. 

This is a people management role. There are around 11 members of the Climate Hub Team (including the c-heads).  The role holder will have line management responsibilities for around 4 members. 

Role Requirements

Minimum Criteria

• Strong analytical skills with the ability to independently drive forward high-profile work
• Experience of working and/or knowledge of macro-economic concepts.  An ability to apply that knowledge to areas of Bank policy
• A curiosity about, and dedication to, the Bank's work responding to climate change and a good understanding of the Bank’s statutory objectives.
• Strong verbal and written communication and interpersonal / leadership skills.
• Strong stakeholder management skills. 
• The ability to work to tight and/or changing timelines if required.

Essential Criteria

• A willingness to work flexibly across a broad range of activities.
• An inclusive and collaborative approach to work.
• A track record of role exhibiting and promoting the Bank’s values.

Desirable Criteria

• Training and experience working on climate change policy.
• Industry or academic qualifications in climate change, climate science, sustainable finance or similar.
• Industry or academic qualifications in macro-economics
• Experience of handling a broad range of collaborators across an organisation

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive.  We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation.  One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working.  This role is therefore open to flexible working patterns. 

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month.  Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making workplace adjustments for all of our employees as needed, and also for candidates throughout all stages of the selection process. We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The closing date for applications is 5 November 2022.

Reward Package

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.  

The salary range for this vacancy is approximately £74,400-£87,500, dependent on relevant skills and experience. In addition, the total reward package also includes: 

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
• A discretionary performance award based on a current award pool.
• A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 25 days annual leave with option to buy up to 13 additional days through flexible benefits.
• Private medical insurance and income protection.

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.